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432 Waterwheel Falls Drive Henderson, NV 89015

3 Beds 2 Baths 1,482 sqft Built 1997

$310,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $209.18
  • 2 Days on Market
  • MLS # : 2250026
  • Updated Date : 11/21/2020 at 12:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,482 sqft
  • Baths : 2 full
Listing Agent

Show Vegas Realty

Listing Agent's Description

Dream Home 3Bed 2bath nice area .. looking for Great location you found it,No Showings at this time.

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MARKET HIGHLIGHTS

  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)
  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)
  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Black Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $111k340k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Black Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451825

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Ulis Newton Elementary School Primary Regular 611 35 7
Lyal Burkholder Middle School Middle Regular 747 34 NA
Foothill High School High Regular 2,883 109 7

Ulis Newton Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 35
7
GreatSchools Rating

Lyal Burkholder Middle School

  • Education Level: Middle
  • # of students: 747
  • # of teachers: 34
NA
GreatSchools Rating

Foothill High School

  • Education Level: High
  • # of students: 2,883
  • # of teachers: 109
7
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,144
Property Tax -$187
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$85

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$310,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$33,846

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,590

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,582

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4953$1,4954$1,5905$1,600
$1,600
RENT COMPS ANALYSIS
  • 432 Waterwheel Falls Drive Henderson, NV 4
    • 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,482 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.07
    •  
  • 412 Box Elder Way #0 Henderson, NV 1
    • 3 beds 1 baths ∙ 1,368 Sqft ∙ Built 1980 3 beds 1 baths ∙ 1,368 Sqft ∙ Built 1980
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 446 Viewmont Drive Henderson, NV 2
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1994
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.09
    •  
  • 417 Rocky Road Henderson, NV 3
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1996
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.09
    •  
  • 479 Opal Drive Henderson, NV 5
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1994
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jill A Whittle
1.702.768.9441
Show Vegas Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250026
Last Updated: 11/21/2020
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